Mumbai: Reserve Bank Governor Raghuram Rajan is most likely to hold the key rates at the upcoming review of the monetary policy on Tuesday, where factors like liquidity management measures are the ones to watch out for, brokerages said on Friday.

"RBI to leave rates unchanged despite easing inflation... in no hurry to ease rates," Singaporean brokerage DBS said in a note.

Mumbai: Export-Import Bank of India (Exim Bank) on Wednesday entered into a partnership with a US government body to help and advice domestic companies interested in investing in the world's largest economy.

Exim Bank Chairman and Managing Director Yaduvendra Mathur signed a memorandum of intent (MoI) with 'SelectUSA', a trade facilitation body under the US Commerce Department which has a mandate to attract investments in America.

London: In a controversial move, global private banking major HSBC has closed a number of "risky" accounts belonging to Muslim groups and individuals in the UK.

HSBC has written to one of London's biggest mosques at Finsbury Park and other organisations, including an Islamic think tank, saying that to continue providing services would be outside the bank's "risk appetite".

It said decisions to close accounts were "absolutely not based on race or religion".

New Delhi: State-owned IDBI Bank has said it is not considering any proposal to merge Kolkata-based United Bank of India with itself.

"We confirm that so far no proposal for merger of United Bank of India with IDBI Bank has been discussed at IDBI Bank's board meeting and also no communication from Government of India in respect of the above has been received by the bank," IDBI Bank said in a statement.

Meanwhile in separate statement, United Bank of India said that there is no negotiations taking place for merger of the bank.

Mumbai: State-run lender Central Bank of India has said it is in the process of selling 4 percent of its stake to Life Insurance Corporation through an institutional placement for Rs 581 crore to meet its capital requirement of Rs 2,000 crore this fiscal.

"We will be needing Rs 2,000 crore for our business plans this financial year. We did go to LIC and we are getting around Rs 581 crore from them," chairman and managing director Rajeev Rishi said here over the weekend.

Mumbai: Private sector lender Yes Bank on Wednesday said it has reported a 9.6 percent jump in its net profit at Rs 439.5 crore for the first quarter ended June 2014, driven by higher net interest income.

The bank had reported a profit after tax of Rs 400.8 crore in the year ago quarter.

Mumbai, Jul 21 Private sector lender Kotak Mahindra Bank, which has decided to buy a 15 per cent stake in commodity bourse Multi Commodity Exchange from Financial Technologies Ltd (FTIL), on Monday said it would be a long term investor in MCX and the deal will create value for the bank's shareholders.

"The franchise (MCX) is great. As of now, we are coming in as a financial investor. We believe in long-term franchise of MCX and we will take it along as it goes," Bank's Head, Group Strategy, Paul Parambi said.

New Delhi: RBI has advised boards of banks not to levy usurious interest rate including processing and other charges on loans.

"It is not proposed to issue any guidelines to the banks to offer loans to borrowers at uniform rate of interest in view of variation in their costs, business models, margins etc," Finance Minister Arun Jaitley said in a reply to the Lok Sabha.

Kochi: Kerala-headquartered South Indian Bank has recorded the highest first quarter profit of Rs 126.65 crore profit in the first quarter ended June 30, registering a 10.28 percent growth on a year-on-year basis.

Announcing the first quarter results here, V A Joseph, Managing Director and CEO, said the bank's strategy of focusing on core deposits has yielded excellent results as the core deposits and CASA deposits registered impressive growth of 21.05 percent and 14.42 percent, respectively.

Total business increased by Rs 6,058 crore from Rs 75,123 crore to Rs 81,181 crore, registering a growth of 8.06 percent.

Mumbai - Non-Banking Financial Companies (NBFCs) have been allowed to accept e-KYC service as a valid process to verify identity and address proof of customers to reduce risk of fraud and forgery.

"In order to reduce the risk of identity fraud, document forgery and have paperless KYC verification, UIDAI has launched its e-KYC service.

"Accordingly, it has been decided to accept e-KYC service as a valid process for KYC verification under Prevention of Money Laundering (PML) (Maintenance of Records)," the RBI said in notification addressed to NBFCs Monday.

New Delhi: Public sector SBI and PNB could be among the first banks to tap capital market this financial year to raise funds to meet global risk norms Basel III, a top finance ministry official said here Friday.

Financial Services Secretary G S Sandhu also said no final decision has been taken yet.

"Which banks will go first, that we have to work out. We have asked all banks to submit their capital requirement plans. They have given their proposal and we are giving final touch to them. The schedule will be worked out soon," he added.